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Share-based compensation (Tables)
 6 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Restricted Share Awards
A summary of our restricted share awards from January 1, 2020 to June 30, 2020 is as follows:
 
Number of Shares
 
Weighted-Average Grant Date Fair Value
Unvested balance at January 1, 2020
2,157,336

 
$
9.03

Granted
1,076,619

 
7.92

Vested
(838,553
)
 
8.97

Forfeited
(68,409
)
 
8.95

Unvested balance at June 30, 2020
2,326,993

 
$
8.54
Summary of Key Inputs Used in Monte-Carlo Simulation
The table below summarizes the key inputs used in the Monte-Carlo simulation to determine the grant date fair value of the total shareholder return performance awards ($ in thousands):
Performance Award Grant Date
 
Percentage of Total Award
 
Grant Date Fair Value by Component
 
Volatility (1)
 
Interest
Rate (2)
 
Dividend Yield
January 2, 2020
 
 
 
 
 
 
 
 
 
 
Total Shareholder Return
 
50
%
 
$
1,334

 
24.87
%
 
1.58
%
 
—
%
Adjusted EBITDA Comparison
 
50
%
 
$
2,187

 
—
%
 
—
%
 
—
%
________
(1) Expected volatility was determined based on the historical share prices in our industry.
(2) The risk-free rate was based on U.S. Treasury zero coupon issues with a remaining term equal to the remaining term of the measurement period.
Summary of Performance Share Awards
A summary of our performance share awards from January 1, 2020 to June 30, 2020 is as follows:
 
Number of Shares
 
Weighted-Average Grant Date Fair Value
Unvested balance at January 1, 2020
913,407

 
$
7.22

Granted
552,395

 
6.38

Forfeited
(265,088
)
 
7.99

Unvested balance at June 30, 2020
1,200,714

 
$
6.66